Because most of the parts for its irrigation systems are standard, Waterways handles the majority of its manufacturing as a process cost system. There are multiple process departments. Three of these departments are the Molding, Cutting, and Welding departments. All items eventually end up in the Packaging Department, which prepares items for sale in kits or individually.

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Because most of the parts for its irrigation systems are standard, Waterways handles the majority of its manufacturing as a process cost system. There are multiple process departments. Throe of these departments are the Molding, Cutting, and Welding departments. All items eventually end up in the Packaging Department, which prepares items for sale in its or individually. The following information is available for the Molding department for January 21,700 90% Work in process beginning: Units in process Stage of completion for materials Stace of completion for labor and overhead Costs in work in proces inwentory Materials Overhead Total costs in beginning work in process $167,110 62,200 17 350 $252,160 60.000 58,300 Units started into production in January Units completed and transferred in January Costs added to production Materials Labor $267 590 302.496 60,790 $631,276 Overhead Total costs added into production in January Work in process ending: Units in process Stage of completion for materials Stage of completion for labor and overhead 23.400 Your answer is partially correct. Try again. Prepare a production cost report for Waterways using the weighted average method. (Round unit costs to 2 decimal places, e.g. 2.25.) WATERWAYS CORPORATION Molding Department Production Report For the Month of January Equivalent Units Physical Conversion Units Materials Costs Quantities Units to be accounted for Work in process, Jan. 1 Started into production Total units 921700 760000 181700 Units accounted for Transferred out Work in process, Jan. 31 Total units 158300 23400 81700 58300 11700 170000 158300 12340 50640 Conversion Costs Costs Materials Total Unit costs Costs in January 57883436 5434700 970000 $1448736 150640 Equivalent units Unit costs $5.21 513.61 Costs to be accounted for Work in process, Jan. 1 Started into production 51252160 1631275 $1883436 Total costs Cost Reconciliation Schedule Costs accounted for Transferred out 89973 Work in process, Jan. 31 Materials 362043 Conversion costs 431420 T793463 5883436 Total costs